JPMorgan Chase & Co. Has Lowered Expectations for RXO (NYSE:RXO) Stock Price

RXO (NYSE:RXO) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $15.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 17.48% from the stock’s previous close.

RXO has been the subject of several other research reports. Wells Fargo & Company decreased their price target on shares of RXO from $20.00 to $15.00 and set an “equal weight” rating for the company in a research report on Thursday, May 8th. UBS Group reduced their price objective on shares of RXO from $24.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Truist Financial reduced their price objective on shares of RXO from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Barclays reduced their price objective on shares of RXO from $24.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Finally, Susquehanna set a $12.00 price objective on shares of RXO and gave the company a “neutral” rating in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, RXO currently has an average rating of “Hold” and an average price target of $18.87.

RXO Trading Up 4.9%

Shares of NYSE:RXO traded up $0.80 during mid-day trading on Tuesday, reaching $16.97. 259,175 shares of the company were exchanged, compared to its average volume of 1,347,021. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -7.82, a P/E/G ratio of 7.70 and a beta of 1.69. The firm’s 50-day simple moving average is $15.64 and its 200 day simple moving average is $18.68. RXO has a 1 year low of $12.19 and a 1 year high of $32.82.

RXO (NYSE:RXO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). RXO had a negative net margin of 5.94% and a positive return on equity of 1.18%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the business earned ($0.03) EPS. The business’s quarterly revenue was up 57.0% on a year-over-year basis. Equities research analysts forecast that RXO will post 0.31 EPS for the current year.

Hedge Funds Weigh In On RXO

A number of institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. increased its position in RXO by 25.1% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,433 shares of the company’s stock worth $54,000 after purchasing an additional 688 shares during the last quarter. Douglas Lane & Associates LLC grew its stake in RXO by 4.1% during the second quarter. Douglas Lane & Associates LLC now owns 3,739,778 shares of the company’s stock worth $58,789,000 after buying an additional 148,738 shares during the period. Rhumbline Advisers grew its stake in RXO by 1.1% during the first quarter. Rhumbline Advisers now owns 413,204 shares of the company’s stock worth $7,892,000 after buying an additional 4,337 shares during the period. Strs Ohio purchased a new stake in RXO during the first quarter worth approximately $97,000. Finally, Geneos Wealth Management Inc. purchased a new stake in RXO during the first quarter worth approximately $30,000. Institutional investors and hedge funds own 92.73% of the company’s stock.

RXO Company Profile

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.